SSR Mining Inc. (NASDAQ:SSRM) Given Average Rating of “Reduce” by Brokerages

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have been given a consensus rating of “Reduce” by the seven research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $6.56.

A number of brokerages have recently weighed in on SSRM. CIBC raised their price objective on SSR Mining from $5.50 to $5.75 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. StockNews.com raised shares of SSR Mining from a “sell” rating to a “hold” rating in a report on Friday, May 24th.

SSR Mining Trading Down 3.5 %

NASDAQ:SSRM opened at $4.35 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.54 and a quick ratio of 1.75. The firm has a market capitalization of $879.12 million, a price-to-earnings ratio of -2.10, a price-to-earnings-growth ratio of 0.50 and a beta of 0.71. SSR Mining has a one year low of $3.76 and a one year high of $15.27. The business has a fifty day moving average price of $4.93 and a 200-day moving average price of $5.42.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last issued its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.13. The business had revenue of $230.23 million during the quarter. SSR Mining had a positive return on equity of 5.01% and a negative net margin of 39.15%. Sell-side analysts forecast that SSR Mining will post 0.54 EPS for the current year.

Institutional Trading of SSR Mining

Several institutional investors have recently added to or reduced their stakes in the company. Alaska Permanent Fund Corp increased its position in shares of SSR Mining by 17.6% during the first quarter. Alaska Permanent Fund Corp now owns 1,169,423 shares of the basic materials company’s stock worth $5,216,000 after acquiring an additional 175,212 shares during the period. Quadrature Capital Ltd increased its position in shares of SSR Mining by 1,318.9% during the first quarter. Quadrature Capital Ltd now owns 668,300 shares of the basic materials company’s stock worth $2,976,000 after acquiring an additional 621,200 shares during the period. Duality Advisers LP increased its position in shares of SSR Mining by 239.1% during the first quarter. Duality Advisers LP now owns 264,975 shares of the basic materials company’s stock worth $1,182,000 after acquiring an additional 186,829 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of SSR Mining by 5.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,588,215 shares of the basic materials company’s stock worth $16,003,000 after acquiring an additional 191,409 shares during the period. Finally, GSA Capital Partners LLP raised its stake in SSR Mining by 185.6% in the first quarter. GSA Capital Partners LLP now owns 351,496 shares of the basic materials company’s stock worth $1,568,000 after buying an additional 228,413 shares in the last quarter. Institutional investors own 68.30% of the company’s stock.

About SSR Mining

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.